April 30th, 2008
01:20 PM ET
15 years ago

Bill Clinton: High oil prices here to stay


Watch Bill Clinton's comments Wednesday.

(CNN) – Campaigning for his wife in North Carolina, former President Bill Clinton said Wednesday that he’d be “very surprised if oil goes below a hundred dollars a barrel again in my lifetime.”

“There is a limited amount of oil in the ground and everyday more and more people can afford to buy it so they are gonna bid the price up,” said Clinton, who added that drivers have been forced to choose “between driving to work and having enough food for their kids.”

His wife Hillary Clinton has proposed a gas tax holiday – paid for in part by higher taxes on oil companies - that would give consumers a price break at the pump this summer. The New York senator has also called for a Federal Trade Commission investigation into possible market manipulation by oil companies or speculators.

Filed under: Bill Clinton
soundoff (284 Responses)
  1. Florida For Obama


    Keep talking Bill, keep on talking. We don't mind a little boost here in the Obama campaign.

    April 30, 2008 02:49 pm at 2:49 pm |
  2. Woohoo!

    If Obama wins the nomination, this Dem is riding the tide to the Republican Party. He is a joke – and his supporters (the ones who are screaming HOPE and CHANGE) are a disgrace. If you support the man, then please do so – with some dignity. You claim to want peace in Iraq while at the same time viciously attacking Hillary supporters and Republicans (odd, considering you also claim that Obama will work well with the Republicans). SPIT!

    April 30, 2008 02:49 pm at 2:49 pm |
  3. RFP

    The price of oil is so high because the US Dollar is worth so little. People are buying oil and investing in oil because they don't want to put their money in the US economy. We need to get back on the gold standard. If you compare the rise in oil prices to the rise in gold prices, it's comparable. End the Fed and get back on the gold standard.

    April 30, 2008 02:49 pm at 2:49 pm |
  4. Ms. Smith

    Everything President Clinton is saying makes perfect sense, given the demand that India and China are currently making on the world's oil supply. That demand will only increase, as other nations also seek to modernize their economies. Thus, President Clinton's conclusions seem reasonable. Perhaps energy experts might debate this point with the former President and present another scenario. However, most of the rabid Obama supporters on this page show their basic ignorance of economics and supply side theory in a global market.

    Just once - try not to attempt to shoot the messenger. Also, try a little basic respect for a man who left the USA economy in better shape than it had seen for decades. Our current dilemma may be rightfully dropped at the door of President Bush and his administration's regulatory, trade, and foreign policy. But to suggest Bill Clinton doesn't understand the U.S. economy is just stupid!

    April 30, 2008 02:50 pm at 2:50 pm |
  5. Brad in Missouri

    Those Obama supporters who are eagerly counting Superdelegates as they come in are forgetting one crucial fact... Superdelegates can change their minds at any time! There is no math to this game until time runs off the clock. Just dig in and wait. Nothing will be decided until DNC. And I am pretty sure it will add up for Hillary. btw... Gallup poll has her ahead nationally despite all the states the Obama "won." Knowing what we all do now, who will those state choose in November? That is what is important to Superdelegates.

    April 30, 2008 02:51 pm at 2:51 pm |
  6. HP Boston

    Looks like the terrorist have won. We do not need to fear bombs or attacks. Our country is owned lock stock and Barrel (OIL) by foreign countries.
    We no longer have faith in any part of this government or the big biz power brokers who have sold us down the river for cheap labor , lower taxes, and the almighty millions of dollars they make.
    We should be terrified, we have been invaded and the pain has just begun.
    LOU DOBBS for president!

    April 30, 2008 02:51 pm at 2:51 pm |
  7. Mike NYC

    Wake up people! If we took all the money we have spent on the Iraq war and put it into R&D for an alternative fuel we would be there already.

    Instead we have chosen to sacrafice hundreds of thousands of lives not just our own but innocent iraqs to continue on the path of distruction of oil. Not only is it raising our cost of living but also harming the environment and giving us terrible reputation across the world.

    Why didnt we just take that money and invest it in finding a new way energy source...

    April 30, 2008 02:51 pm at 2:51 pm |
  8. Ca Native

    Everyone in the US can thank the tree-hugging liberals for our oil situation!!

    Why?? ANWR – the largest oil fields in the world but tree-huggers forcing liberals in congress to block exploration.

    April 30, 2008 02:51 pm at 2:51 pm |
  9. Robert in Toronto,ON

    It is so unfair that Bill Clinton gets to campaign for Hillary and Chelsea...who does Barack have – Michelle. That's 2 on 3 at best. And one is an ex-president! And if (heaven help us) Hillary were to win the White House...you gotta know that Bill Clinton will muck it up for her in there – the two of them are DISASTERS and need to go away.

    April 30, 2008 02:52 pm at 2:52 pm |
  10. Pam

    So he's admitting that this gimmick of repealing the gas tax for 3 months won't work. Thanks Bill!

    April 30, 2008 02:52 pm at 2:52 pm |
  11. Mark

    The clintons are hedging their bets again.

    April 30, 2008 02:52 pm at 2:52 pm |
  12. Cynthia Harrell

    Who cares what the Ex- First Black President has to say. Like someone wrote go find Monica ..or Jennifer or Kathy or Paula Jones.....

    April 30, 2008 02:52 pm at 2:52 pm |
  13. ML Holmes in OKC

    I lived in Alaska when the Prudoe Bay pipeline was completed and the AK gov. was happy to have $12-$14 a barrel for oil and I can remember filling up my car for $2.00 worth of gas. How times change. I also agree with Bill Clinton. The existing oil supply is spread over many more countries and the US has not developed more oil off the coasts of Florida or California. Developing ANWAR now would be too expensive for the amount of oil recovered. High fuel prices are here to stay. A tax gas holiday would only help marginally for a very short time. The oil companies should pay higher taxes unless they explore and develop more fields immediately.

    April 30, 2008 02:52 pm at 2:52 pm |
  14. for Obama

    Follow the superdelegates... they are falling like PINheads for Obama

    April 30, 2008 02:52 pm at 2:52 pm |
  15. Trish- PA

    Gee, Bill. Thanks for the hope! What a moron. Please Indiana. Please end this mess and get this man and his pantsuit wearing ego trip of a lying wife out of my face. We tried to do it in Pa but there were just too many people there who like a good lie. Or in Bill's case, lay? I just don't get the appeal of these old-school Washington typical politicians. Experienced Washington politicians got us into this mess. How on earth can you think that the same old thing will get us out of this mess?

    Obama 08

    April 30, 2008 02:53 pm at 2:53 pm |
  16. Larry Dickman - Des Moines, IA

    President Clinton is correct. Oil is never going to be below $100 a barrel again. Alternative fuels through corn are not the answer either, since it takes more fuel to convert it to ehtanol. What we need is to increase production here in the US, search for other alternatives for fuel, and begin drilling off of Alaska and in Alaska.

    By putting a tax on the Oil Companies, that is going to stop them from spending money on Research and Technology.

    April 30, 2008 02:53 pm at 2:53 pm |
  17. Sante

    Fox, I still do not know who is that guy Obama and why he deserves sooo much attention?
    What he has done sooo out standing for the country? Controversies one after others!
    Is that the best that we can have out of 300 000 000?

    And one more question: Why Hillary Clinton is not good enough for us? Oh, yaaa, she is not that cool and entertaining!!!
    We do not need serious and heard working President and beside she is a woman! That is not cool at all!!

    Love you Hillary!

    April 30, 2008 02:54 pm at 2:54 pm |
  18. Jessie

    I will rather have Bill in the White House again than Obama-rosa as the First Lady any time. That woman just screams "socialist" to me. Have your heard any of the latest speeches:

    "The truth is, in order to get things like universal health care and a revamped education system, then someone is going to have to give up a piece of their pie so that someone else can have more." She'd come Tuesday to meet with 50 working women who filled a room at a Harrisburg preschool, anxious to talk to Barack Obama's wife 4/8/08 tuesday.

    Obama-rosa is Kim Jong-il in a dress!!

    April 30, 2008 02:54 pm at 2:54 pm |
  19. JFK

    Bill is completely right. Oil will never go that low again or for very long.

    April 30, 2008 02:54 pm at 2:54 pm |
  20. American Girl

    Isn't he contradicting Hillary?

    "There is a limited amount of oil in the ground and everyday more and more people can afford to buy it so they are gonna bid the price up"

    Taking cut, causes people to drive more, which increases the demand on the limited amount of oil and then oil companies will raise the price becuse of their inventories.

    April 30, 2008 02:54 pm at 2:54 pm |
  21. indy dem

    A gas tax holiday is not "innovation." So what will happen when the summer is over? A tax-hike? Didn't she promise not to do that? This is a cheap trick to pick up a few shortsighted voters.

    April 30, 2008 02:55 pm at 2:55 pm |
  22. mimi de la cruz for OBAMA




    April 30, 2008 02:55 pm at 2:55 pm |
  23. Renee St.Louis

    The Hll and Bill show continues to go. Please SD end this madness and nominate Obama already. He is the man for the job.

    April 30, 2008 02:56 pm at 2:56 pm |
  24. Darth Vadik, CA

    Why is Bill stepping into it again?

    April 30, 2008 02:56 pm at 2:56 pm |
  25. KJ

    This is nothing, but typical political promises for votes...we're all use to that from the Clintons. Come on, does Senator Clinton honestly believe that we're going to believe in her "gas tax holiday"? Do not insult our intelligence.

    How is this going to help the average family when there is so much more needed. Why all of a sudden is she putting together this solution when she did nothing in the Senate as the prices soared and have been for the last 4 years. As a matter of fact, none of the candidates did anything. Of course now Senator's Clinton and McCain have proposed their solutions and Senator O'Bama has not come forward with his...if he has one. I believe he was right yesterday when he made a statement about this is only a typlical political ploy for votes, but he too needs to come forward with his proposal/ solution so the American people can make a choice on this subject.

    I can honestly say that I will NEVER vote for Senator Clinton because she will say/do anything to get elected...many, many folks in Va. feel this way so I do not see her carrying this State if she is the nominee. Yes, Senator O'Bama will carry this state. We do not register in this state as a Republican or Democrat so before some folks think I'm all for Senator O'Bama please think again.

    I am for the best candidate who will/can change the course of this country. Enough is enough of this typical political promises, solutions...etc. Can we move forward with a Democratic nominee who will put "us" first and not their political agendas. This country is suffering and what's going to happen to us future retirees and our 401K, IRA's...etc. If we do not change the course of this country we and our children are going to face some very tough times.

    Please Senator Clinton, step a-side for this country and your party. You and President Clinton had your time in the White House and we do not need another Clinton administration.

    ABC...Anyone But Clinton.

    April 30, 2008 02:56 pm at 2:56 pm |
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